OFAC issues Venezuela-related General License 40A

On July 7, 2021, the Department of the Treasury’s Office of Foreign Assets Control issued General License 40A, “Authorizing Certain Transactions Involving the Exportation or Reexportation of Liquefied Petroleum Gas to Venezuela,” pursuant to Venezuela Sanctions Regulations 31 CFR Part 591 to extend the authorizations in GL 40 until July 12, 2023.   GL 40  temporarily enabled the export or reexport of liquefied petroleum gas to Venezuela, involving the Government of Venezuela, Petróleos de Venezuela, S.A. (PdVSA) or any entity in which PdVSA owns at least a 50 percent interest, that would otherwise be prohibited by Executive Order 13850,  as amended by EO 13857, or EO 13884.  GL 40A effectively replaces and supersedes GL 40 in its entirety.

General License 40A | Dept of Treasury Recent Actions